Traverse the Road-map from Spend Analysis to Savings

By Swetalina Routray

In Financial Savings Management

Jan 18th, 2018

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Organizations are always looking out for ways to cut costs and save more.

In fact as per Deloitte’s global chief procurement officer survey 2017 – “Cost reduction remains one of the top priorities for CPOs globally with nearly 40% of the CPOs primarily focusing on consolidating spend”. The major challenge faced by CPOs is having granular level visibility across the organizational spends.

Another challenge faced by CPOs is getting Finance to agree on Procurement’s savings contributions. In fact, almost half of Finance leaders believe that not even 20% of savings generated by procurement drop down to the bottom line – as per a study by Protiviti.

Steer through these challenges by analyzing your spend and creating a single-agreed-source-of-truth for your procurement savings.